Intercorp Financial Services (NYSE:IFS) Price Target Raised to $62.00

Intercorp Financial Services (NYSE:IFS) had its price objective upped by JPMorgan Chase & Co. from $56.00 to $62.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Wednesday, August 19th. Wall Street Zen downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Intercorp Financial Services presently has an average rating of “Buy” and an average price target of $62.00.

Intercorp Financial Services Stock Up 0.3%

Intercorp Financial Services stock opened at $54.54 on Thursday. The firm has a market capitalization of $6.06 billion, a P/E ratio of 9.97, a P/E/G ratio of 0.73 and a beta of 0.81. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.59. Intercorp Financial Services has a twelve month low of $38.29 and a twelve month high of $61.38. The stock’s fifty day simple moving average is $57.31 and its 200-day simple moving average is $51.68.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.08. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%.The firm had revenue of $554.15 million during the quarter, compared to analyst estimates of $520.46 million. As a group, equities analysts expect that Intercorp Financial Services will post 6.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Intercorp Financial Services

Several institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its holdings in Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock worth $32,000 after purchasing an additional 384 shares in the last quarter. DGS Capital Management LLC purchased a new position in shares of Intercorp Financial Services in the 1st quarter valued at $213,000. BTG Pactual Asset Management US LLC acquired a new stake in Intercorp Financial Services during the 2nd quarter worth $250,000. Pinnacle Associates Ltd. purchased a new stake in Intercorp Financial Services in the third quarter valued at $275,000. Finally, Jane Street Group LLC purchased a new stake in Intercorp Financial Services in the first quarter valued at $287,000.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.